Morning Bell 5 March

The broad Aussie market is expected to retreat 0.3% or 17 points –after gaining 1.3% this week.

What to watch today:
• Keep an eye on BHP (ASX:BHP) and Rio Tinto (ASX:RIP) – both stocks are in short term breakouts and growing their earnings, which is supported by the commodity rally.
• The Iron ore price rose 0.5% overnight to US$175, hot on the heels of a 10-year high, and it’s likely to move further north until Vale’s production returns to its normal state.
• Elsewhere, Gold, Silver and Copper stocks could see some pressure again today as their base metal prices fell sharply for the second day.
• Keep an eye on some of the most traded stocks from yesterday: BlackEarth Minerals (ASX:BEM) rose 25%, BPH Energy (ASX:BPH) fell 36%, and up and coming rare earth developer Vital Metals (ASX:VML) fell 15%.
• Services sector data is out today for February expected to show the sector is continuing to slowly grow – keep an eye on pub owners companies like Redcape Hotels (ASX:RDC) and ALE Property Group (ASX:LEP).

Trading ideas:
• Citi upgraded ARB Holdings (ASX:ARB) with a beefed up target of $45.15 after the business announced its ramping up its European operations.
• GrainCorp (ASX:GNC) had its Bell Potter Buy rating reiterated with a $5.20 target.
• Ava Risk Group (ASX:AVA), Motorcycle Holdings (ASX:MTO) and Imdex (ASX:IMD) are all giving off bullish charting signals according to Trading Central.



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